techmarket view25 Jul 2017 12:02
Results for the six months to June show group revenues up 26% to around £10m, the like-for-like advance coming in at 19% (before the contribution of recently acquired C24 Technologies). Adjusted EBITDA was up 46% to £2.15m. Revenue generated by the Clareti real-time transaction control system was ahead by 53%, with related software revenues up 138% to £3.7m.
As chronicled in HotViews, Gresham Technologies has made consistent progress, driven by the Clareti (CTC) system and enabled by investment in international sales and delivery capabilities. In the half year, Gresham added 8 new CTC customers, 3 of which were in the important US market. The purchase of C24 Technologies is also paying off, bringing with it additional technology and a development environment to further speed and simplify Clareti system implementation.
Gresham now enjoys significant momentum in key markets, with flagship clients in US Tier 1 banking and hedge fund management. In Europe, they are making good progress in large insurers. Success is growing in Asia and Australia. However, in addition to new customer acquisition, we now expect sustained growth in share of wallet.
Gresham has used a “breakthrough” proposition to penetrate companies which have huge technology budgets.
Through targeted development and the C24 Technologies acquisition it now has a much broader service portfolio to drive follow-on sales. The Cloud-based Clareti-as-Service enables rapid adoption by smaller business units, Clareti Analytics provide additional business intelligence, Clareti Accounts Receivable Management is a vertically-targeted offering. They are developing a debt-servicing platform for complex loans as well as a Data Accelerator to improve the performance and quality of data lakes. As a consequence, we can expect sales to existing customers to be a major feature of company strategy and a substantial long-term revenue and profits driver.
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